According to Bloomberg, SL Green Realty Corp. managed to secure a residential-and-commercial building on Manhattan’s west side for $386 million at a time when the city is booming.
The real estate investment trust is acquiring apartment buildings as New York rents approach records. In December, the company agreed to buy property in the Williamsburg section of Brooklyn for its first residential investment in the borough. Also last year, SL Green joined Stonehenge Partners in a $193 million deal to buy seven retail and multifamily properties in Manhattan’s Midtown and Upper East Side neighborhoods.
